Alphabet (NASDAQ:GOOGL) PT Raised to $200.00

Alphabet (NASDAQ:GOOGL) had its price target increased by equities research analysts at Royal Bank of Canada from $155.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 16.47% from the company’s current price.

A number of other equities analysts have also weighed in on GOOGL. JPMorgan Chase & Co. increased their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Wolfe Research raised their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Needham & Company LLC raised their price objective on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird raised their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wedbush raised their price objective on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $180.24.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $15.72 on Friday, hitting $171.72. The company’s stock had a trading volume of 40,757,775 shares, compared to its average volume of 30,335,750. Alphabet has a 12 month low of $103.54 and a 12 month high of $174.71. The company has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The stock’s 50-day moving average is $147.22 and its two-hundred day moving average is $141.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter last year, the business posted $1.05 earnings per share. On average, equities research analysts forecast that Alphabet will post 6.78 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last 90 days. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Chico Wealth RIA bought a new stake in shares of Alphabet in the third quarter worth about $330,000. Summit Global Investments increased its holdings in shares of Alphabet by 67.7% in the third quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after acquiring an additional 97,466 shares in the last quarter. Prentice Wealth Management LLC increased its holdings in shares of Alphabet by 18.1% in the third quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after acquiring an additional 1,096 shares in the last quarter. Sunflower Bank N.A. increased its holdings in shares of Alphabet by 6.3% in the third quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after acquiring an additional 353 shares in the last quarter. Finally, David J Yvars Group increased its holdings in shares of Alphabet by 10.3% in the third quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after acquiring an additional 390 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.